Auto Pawn Loans Faqs

Frequently Asked Questions(FAQ)

What is a vehicle pawn loan?

A vehicle pawn loan is a short-term cash loan that you get when you keep your vehicle as collateral with us. When you repay the loan in full with interest, we shall hand your vehicle and its full legal ownership over to you. A pawn loan is used as a short-term funding option by the people who need quick money or is unable to acquire conventional finance from a bank or other financial organisation. A pawn loan is a fast way to borrow quick cash loan that too without any hassles of credit or background checks. In simple terms, a pawn loan is not based on your salary or credit rating rather they are based on the value of your collateral. That’s the reason neither good credit nor bad credit is a precondition for applying for a pawn loan. If you have collateral i.e. any vehicle maintained and running in good condition, you can hock the vehicle and get an instant cash loan for a short-term, which normally is for three months.

Against what type of vehicles will you provide short-term cash loan?

We lend short-term cash loans against cars, motorbikes, boats, trucks, vans, Utes, Jet Skis, caravans, ride on mowers, tractors, bobcats or any other vehicle regardless of the make or model. As long as your vehicle is maintained well and running in good condition, is roadworthy and fully paid for, we can use it as collateral and provide you cash loan for a short-term. So, when you fail to get a loan from a bank or finance institution due to your low credit score or low income, come to Cash Fast Loans, a premier auto pawnshop and straightaway avail a pawn loan instantly against your vehicle and walk away with cash. Depending upon your vehicle’s value, you can get auto pawn loan starting from $500* up to $50,000*. You can use this cash to address your immediate problems at hand. And you can claim back your vehicle by paying off the loan amount and interest at the end of the loan term.

How can I apply for a cash loan?

To apply for a cash loan, you will need a vehicle that you own in your name, valid photo identification and rego papers or ownership documents of your vehicle. Once our experts evaluate your vehicle, they will offer you a price. If you agree to the price, you’ll have to complete the formalities and sign the document, and instantly cash will be given to you. Applying for a cash loan made simple by Cash Fast Loans! Besides, when you come to redeem your car by paying the amount and accrued interest, you’ll get back the possession of your vehicle. Just give a call to us at Cash Fast Loans on 02 9630 6613 or if you wish to visit us personally, then visit us today at 10 North Rocks Rd, North Parramatta, NSW, 2151 Australia (No appointments needed). In this way, you can apply for a cash loan using any of the methods mentioned above.

What amount can I borrow against my asset?

You can borrow cash from $500* and up to $50,000* for short-term pawn loans. The amount you can borrow is based on the value of your vehicle, which is determined by the evaluators of Cash Fast Loans. However, we recommend you to visit us along with your asset so that we can evaluate your asset’s value as well as discuss with you about your requirement and provide you with an appropriate loan. As this is a pawn loan based on collateral, no credit or background checks are required. So anyone can easily borrow money against their asset (i.e. any vehicle or machinery) of value irrespective of joblessness, bad debts or even bankruptcy. It is 100% private and confidential and you get options to repay as you go or at expiry. You can avail private individual loan or business loan for short term. At Cash Fast Loans in Sydney, all are eligible for availing a quick auto pawn loan. Come, visit us in Sydney, and borrow a small or large loan without any credit checks against your valuable asset.

What interest will my loan attract?

Higher the value of your collateral and the borrowed amount higher will be the interest, likewise, lower the value of your collateral and the borrowed amount lower will be the interest. Our interest rates are determined by the amount you borrow and the value of the collateral (i.e. vehicle) you supply. After we have spoken with you and assessed your application as well as your vehicle, we will be able to provide you with the accurate rate of interest that you will need to pay. However, prior to borrowing money, you will need to complete our ‘Pawn Agreement’, which will clearly mention the exact terms of your loan and interest that will be applicable. For example, if you avail a cash pawn loan of $200 for loan term of 90 days* (can be extended if required) – here, your monthly repayments will be $88 (Multiply it by 3 for three months) and you will have to pay $264 to claim your asset back at loan’s expiry. There are no other hidden or extra charges whatsoever.

Does it matter why I require the money?

It doesn’t matter for what purpose you need the money. Cash Fast Loans aren’t concerned about what you do with your loan money. You got the loan money by hocking your valuable assets such as a car, motorbike, Ute, SUV, truck, Jet Ski, boat or any other automobile. The loan money is all yours and you are free to use the money for whatever needs you may have. For example, you may pay your unpaid utility bills, use the money for medical treatment or use it for your own wedding expenses. Once your vehicle is hocked and cash is given to you, it is up to you, how you use it or for what purpose you use it. At Cash Fast Loans, we can provide you with the best auto pawn loan offers at affordable interest rates. The next time, when you require cash quickly to manage your urgent requirements, come to Cash Fast Loans. We provide auto pawn cash loans for all vehicle types, makes, models and brands.

Can I borrow if I have a bad credit history or declared bankrupt?

You can avail a pawn loan regardless of your financial condition. It does not matter to us whether you’re unemployed now, have a bad credit history, bad debt or declared insolvent. We won’t perform any background or credit checks to approve pawn loans. We never ask for your pay slips or bank statements. You can pawn your vehicle with us and borrow fast cash loan within minutes on the same day irrespective of your credit status or income. Our cash loan is depended on automobile collateral. You drive in with your vehicle that you want to hock and our evaluators will assess the condition of your vehicle and will give you a quote for the loan amount that you can avail. If you agree with the cash loan offer, you will have to complete the formalities, then the loan money will be given to you, and your vehicle will be placed into secure storage until you come back to claim it.

Do we pawn and lend against interstate vehicles?

We pawn and provide cash loans for interstate vehicles as well. Whether your vehicle has registration of Queensland, Victoria, Tasmania, or Western or South Australia, we will consider your vehicle for an auto pawn loan irrespective of the state it is registered or coming from. However, the vehicle must not be a stolen one. The vehicle should be owned by you and you must furnish vehicle’s ownership papers or Rego papers along with a valid photo identification to be considered for an auto pawn loan. So bring your vehicle from any corner of Australia and hock with us for an instant auto-pawn cash loan. The process is simple and quick and you will walk away with cash within a matter of minutes on the same day. Auto pawn loans for interstate vehicles made easy by Cash Fast Loans. You can bring in any vehicle type, any model or brand for a quick evaluation at Cash Fast Loans. You will get the best of offers for your auto pawn loan.

Do we pawn and lend against unregistered vehicles?

We pawn and provide cash loans for unregistered vehicles too. However, you must own the vehicle and produce the ownership papers. If you are the owner of an unregistered vehicle and want to avail an auto pawn loan, then straightaway bring your unregistered vehicle to Cash Fast Loans for a quick assessment. We accept all vehicle types, all models and all brands. Once our professional evaluator evaluates your vehicle, he will offer you with a pawn loan amount for your vehicle. If you agree with the offered loan amount, you will be given cash in a matter of minutes on the same day after you complete the formalities. On the other hand, if you do not possess the vehicle’s ownership papers then we cannot consider your vehicle for an auto pawn loan. Thus, if you have an unregistered vehicle, do not hesitate to bring it to us for an auto pawn loan and walk away with quick cash in your hand to manage your life’s most pressing issues.

Will my credit be affected if I apply?

Your credit won’t be affected when you apply for a short-term cash loan at Cash Fast Loans. We never check your credit ratings or check your background. It does not matter to us even if you are having a bad credit history or have been declared bankrupt or without a regular employment. Our auto pawn loans are depended purely on vehicle collateral. Cash Fast Loans accept all vehicle types, all models and all brands to provide a quick auto pawn loan on the same day.

If you fail to repay the loan amount and interest, you will lose the ownership of your vehicle and nothing more will happen to you. Your credit ratings would not get affected at all. Your credit file will remain entirely untouched, so other credit provider or lender would not be able to tell that you have borrowed funds from us.

Therefore, when you avail an auto pawn loan from Cash Fast Loans, your credit remains unaffected even if you default on the loan. However, if you want to claim back your vehicle, ensure repaying the loan amount and interest on loan’s expiry.

Who can apply for a pawn loan? What are the requisites for a pawn loan? What information do I need to provide?

Anyone can get a pawn loan irrespective of his or her employment status whether employed, unemployed, or retired. Even if you are having a bad credit, bad debt or declared insolvent, you can still apply for a pawn loan.

To apply for a pawn loan, you should have a vehicle in good running condition. Besides, you will need to fulfil the following requisites to qualify for an auto pawn loan:

You should fully own your vehicle, which means it should be clear from any debt or financial obligation whatsoever.

Your vehicle should be roadworthy and in good running condition, free from any damage or defects.

Does my vehicle have to be free of finance?

Your vehicle should be free from any financial obligation. To grant an auto pawn loan, it is important that you come with a vehicle that is fully owned by you. We prefer there isn’t any finance owing to the bank or any other financial institution. This will speed up the process of pawning and assist us to provide you cash loan in a matter of minutes on the same day. Usually, fully owned vehicles get a preference in pawn loan approvals. However, if there is a minimal amount still owing, please do contact us and we will look into it and try to provide you with a solution. To avail a fast pawn loan, it is essential that the vehicle should be maintained well and running in good condition. Also, the vehicle should be free from any damage and defects. We will evaluate your vehicle and provide a loan amount. If you agree on the loan amount, we will give you the cash within minutes of completing the formalities on the same day and place your vehicle into secure storage until you return to claim it back after paying the loan amount and interest in full.

Do I need to have a regular employment?

Regular employment is not a requirement. Whether you’re employed or unemployed is neither a condition for you to acquire an auto pawn loan. As the pawn loan is directly based on vehicle collateral, your employment status does not have any influence. At Cash Fast Loans, we provide the best of offers for auto pawn loans. If you want a quick pawn loan, bring your vehicle, get it evaluated by our expert evaluator today, and know the loan amount that you will get for your vehicle’s value. If you are in agreement with the loan amount, you can sign the form, immediately we will provide you with the cash and place your vehicle in secure storage until you return. Anyone can avail our auto pawn cash loan. The primary requirement is you must have a vehicle as your asset of value for using it as a security for availing the auto pawn loan. The other requirements are – you must have attained at least 18 years of age, you must own your vehicle (must have ownership papers) and keys to your vehicle as well as your valid photo identification.

Will there be a problem if ownership papers are in my name and another person’s name?

In most of the cases, this won’t be a problem. For instance, if the ownership papers are in your name and in your spouse’s name then this won’t cause a problem. However, if the two names are not within the family or relation then we’ll have to examine it individually to ascertain if it can qualify for a pawn loan. At Cash Fast Loans, you can easily avail auto pawn loans quickly. The process is simple – drive in with the vehicle that you want to use it as collateral for availing the auto pawn loan. Once you are at Cash Fast Loans, our specialised evaluators will evaluate your vehicle and provide you with the best possible loan offer. If you agree with the offer, you sign the form and complete the formalities and we will give you cash in a matter of minutes on the same day, and place your vehicle into secure storage until you return to claim it.

For what time duration can I borrow cash loan?

You can borrow cash loan for a short-term up to 3 months (which can be extended by a month by paying off any outstanding interest and advance interest for the extended month). You can easily borrow cash loan from Cash Fast Loans against your vehicle of value. We accept all types of vehicles, makes, models and brands. We provide the best of offers on personal vehicle collaterals. When you are surrounded by life’s challenging situations and are badly in need of cash then come to Cash Fast Loans with your vehicle for a quick cash loan. Our expert evaluators will evaluate the value of your vehicle and offer you a loan amount. If you agree, we will provide you with cash and place your vehicle into secure storage until you return. A loan term may differ from individual to individual and as per their specific needs. Generally, auto pawn loans are given for a period of 62 days to 90 days, which can be extended. This flexibility is good when you want to claim back your vehicle, but are in short of funds.

Is my tax on the loan deductible?

Your tax on pawn loan is deductible! Loan money availed by depositing an asset is known as a pawn loan. As pawn loans are secured loans, they are exempted from the tax bracket. Well, you might think how a pawn loan is a secured loan. When you have to deposit an asset of value, which can be a car, SUV, Ute, truck, boat or machinery equipment for taking out the loan, it means you are securing the pawn loan with your asset as a guarantee that you will pay back the loan and its interest. For this reason, the rate of interest for secured loans is lower compared to unsecured loans where no collateral is needed for acquiring the loan. Besides, Cash Fast Loans facilitate tax-deductible business loans wherein interest charged on business loans is claimable. Therefore, when you require cash immediately whether for your personal or business needs, come to Cash Fast Loans for obtaining secured pawn loans with no credit check that will not only provide you with immediate cash loan for fulfilling your needs but also will provide you with the essential tax exemption.

How much time does the entire process take?

We’ll process your pawn loan and provide you cash within 30 minutes or less on the same day. It’s that quick, easy and hassle-free to avail an auto pawn loan from Cash Fast Loans, your private money lender in Sydney. Come with your vehicle, vehicle’s ownership documents or Rego papers, valid photo identification proof and a set of keys to your vehicle. At Cash Fast loans, our expert evaluator will evaluate your vehicle and provide you with a cash loan offer. If you agree, you will have to complete the formalities and sign a form. Once we check your vehicle’s ownership papers or Rego papers and your photo ID and get access (keys) to your vehicle, we normally process and approve your cash loan within 30 minutes and you will walk away with cash on the same day. It’s that fast and painless to get a pawn loan. However, you will need to attain at least the age of 18 years to become eligible to apply for a pawn loan. Furthermore, you can apply and avail a pawn loan irrespective of your credit status, which can be a bad debt or declared bankrupt.

How should I repay the loan amount?

You can choose pay as you go plan or repay at the time of loan’s expiry to repay the loan amount. These two payment methods are given to you to repay your pawn loan offered for a short-term, normally for a period of up to three months (which can be extended by a month by paying off any outstanding interest and interest for the extended month in advance). You can choose the repayment method that is most convenient for you.

In the first payment method i.e. pay as you go plan, you will be making repayments on a month-to-month basis (at the end of each month). And in the second payment method i.e. repay at the time of loan’s expiry, here you will be making the entire payment i.e. principal loan amount and interest, everything at the time of loan’s expiry or when you come back to claim your collateral at the end of the loan term. Thus, Cash Fast Loans provide two convenient repayment methods from which you can pick the one that best suits your need.

If I repay my loan early, will it attract a penalty?

Repaying your loan early won’t attract a penalty. Within the redemption period, you can repay your loan in full at any time and you would not attract a per-payment penalty. Actually, we suggest our customers repay their vehicle pawn loans as soon as they are in a position to do so. Moreover, at Cash Fast Loans, you only need to repay for the period you used the loan. For example, you are repaying everything after the completion of one month then you only need to repay the loan amount and interest for that period only (in this case, only for one month). Alternatively, you can opt to repay everything at the time of loan’s expiry. There are no other hidden charges, whatsoever. Besides, if you want to extend your loan beyond three months, you are free to do so; however, you will be charged safekeeping. Repayments are regulated as per the New South Wales state pawnbrokers and second-hand dealers’ act 1996.

What will happen if I am not able to repay my loan on time?

If you’re unable to repay the loan before it expires, we’ll sell your pawned vehicle to receive back the loan amount and interest; however, your credit record won’t be affected. Generally, pawn loans are given for short-term for up to three months duration only. Thus, the redemption period on all vehicle pawn loans is usually up to 3 months. However, if you’re not in a position to repay your loan before the due date then you can extend the redemption period for another month by just paying off any outstanding monthly interest along with paying off the interest for the extended month in advance. This will allow you to buy some more time so that you can arrange for funds and redeem your vehicle. In case, you’re not able to repay your loan and interest, we’ll make every effort to work with you and arrive at a suitable arrangement. Nevertheless, if we’re unable to reach to such an arrangement then we’ll have to sell off your pawned vehicle to receive back the loan amount and interest along with booking a small profit so that we can continue to remain in the business of pawning and money lending.

Maximum Monthly Percentage Rate based on the loan terms selected: Max APR 25% depending on the condition and value of the asset pledged. Minimum loan contracts 62 and maximum loan contract 90 days. E.g. $200 amount borrowed for a term of 62 to 90 days repayment will be $50 per month for 3 months totaling to $150, plus balloon payment. Please refer to rates.